Mountainview Thoroughbred Racing Association, Llc Places Highest Bid At First Category 4 Casino Auction
HARRISBURG, PA: The Pennsylvania Gaming Control Board today held the first in a series of auctions in a process that establishes the order in which the winning bidders select a location for a Category 4 casino.
In today’s public bid opening, in which 4 bids were received, Mountainview Thoroughbred Racing Association, LLC, which operates Hollywood Casino at Penn National Race Course, was the high bidder with a bid of $50,100,000. The center of the Category 4 location, which is an area 30 miles in diameter, chosen by Mountainview Thoroughbred Racing Association, LLC is located in the Borough of Yoe in York County.
Mountainview Thoroughbred Racing Association, LLC,is required to pay the bid price to the Commonwealth within two business days, and then has up to six months to submit an application for the Category 4 slot machine license.
The application will contain the precise site of the proposed Category 4 casino, as well as detailed plans and information concerning the proposed building plan, amenities, employment projections and other related information. Once the application is received, the Board will post public information about the project on its website for interested persons to review.
A Category 4 slot machine license would permit the entity to operate between 300 and 750 slot machines. The entity could also petition for permission to initially operate up to 30 table games for an additional fee of $2.5 million with the capability of adding an additional 10 tables games after its first year of operation.
Additional information on the Category 4 auction process is available on the Board’s web site at www.gamingcontrolboard.pa.gov.
The Gaming Control Board plans to hold its next public auction on Wednesday, January 24, 2018 at 10:00 a.m. in its Harrisburg Public Hearing Room in Strawberry Square. The auction will also be streamed live from the Board’s web site. Subsequent auctions are planned every two weeks thereafter on Wednesdays at the same time and location.
About the Pennsylvania Gaming Control Board:
The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, along with oversight of new gaming initiatives to the Race Horse Development and Gaming Act recently approved through the signing of Act 42 of 2017.
The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos. These facilities collectively employ 18,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.
Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at www.gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.